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Tue, 13 Feb 2018

Naumi Hotels Buys Two Properties in Wellington, New Zealand

Naumi Hotels, a Singapore-based private hotel owner and operator, has purchased two properties in a prime location in Wellington, New Zealand.

Naumi Hotels has entered into an agreement for the purchase of CQ Hotels Wellington for an undisclosed sum.

 The first hotel is located in the heart of Wellingtons lively Cuba Street within an iconic heritage building, complete with a detailed faade dating back to the early 1900s. The property currently has 115 modern rooms and a spacious ground level floor with retail units and a restaurant.

The second hotel, an all-suite property, is located on the same street and offers floor to ceiling windows and kitchen facilities in all the 163 suites. The property also currently features a conference and function centre, an indoor heated swimming pool, gym and multiple F&B options.

With the rise in experiential travel, New Zealand is definitely a hot favourite with millennial travellers and we see a lot of potential in Wellington for something new and vibrant and believe Naumi is the right fit, shares Gaurang Jhunjhnuwala, CEO of Naumi Hotels Australia and New Zealand.

Handover for both properties is expected to be completed by late 2018.

 Dean Humphries, National Director of Hotels for Colliers International negotiated this transaction on behalf of both parties. 

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